https://www.taxtmi.com/caselaws?id=186201 Rent from buildings erected by a lessee on leased land was assessable as income from property where the lease showed the lessee bore construction costs, paid municipal tax, and retained ownership of the structures during the lease term, with the lessor's entitlement arising only on expiry or a contractual contingency. On that footing, the annual value of the let buildings fell within the house-property charging provision, and the assessee's business objects of acquiring and letting houses did not convert such receipts into business profits. The rent was therefore taxable under Section 9, not as business income under Section 10. en-us Fri, 12 Apr 1946 00:00:00 +0530 Fri, 09 Sep 2016 17:08:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186201 Rent from buildings erected by a lessee on leased land was assessable as income from property where the lease showed the lessee bore construction costs, paid municipal tax, and retained ownership of the structures during the lease term, with the lessor's entitlement arising only on expiry or a contractual contingency. On that footing, the annual value of the let buildings fell within the house-property charging provision, and the assessee's business objects of acquiring and letting houses did not convert such receipts into business profits. The rent was therefore taxable under Section 9, not as business income under Section 10. Case-Laws Income Tax Fri, 12 Apr 1946 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186201